Another rehabbed building has been completed in Midtown. The Belnord is the second building finished with help from the Detroit Housing for the Future Fund, and it has 29 apartments in the Arts District.
Led by JacobStreet LLC, the $2.9 million project saw the rehab of 24 apartments, along with the addition of five more at garden-level. Two apartments are listed for those making at or below 50 percent area median income (AMI), 16 units at or below 60 percent AMI, and the rest at 80 percent. This translates to residents making between $31,350 and $50,160. The 26,652-square-foot building has 19 one-bedroom apartments, seven two-bedroom units and three three-bedrooms.
“I am thankful and appreciative of the City of Detroit, LISC Detroit and the Detroit Housing for the Future Fund for creating another mechanism to create and maintain affordable housing in our city,” said developer Ed Siegel, JacobsStreet LLC principal. “The funding allowed us to activate down units, repair some deferred maintenance and keep the units affordable in a location that has excellent access to major employment centers.”
Work included a new roof; new electrical, plumbing, and HVAC; and upgrades to common areas. Residents were not displaced during the construction, and all residents were able to stay.
The Detroit Housing for the Future Fund gave a loan for $2.46 million for the project. Additional affordable projects supported by the fund are underway across the city, and the Charlotte-near Boston-Edison-was recently completed.
